Aduragbemi Omiyale
By Aduragbemi Omiyale
The management of Chams Holding Plc has been charged to continue to engage the investing community to attract more investors.
The Divisional Head of Capital Markets at the Nigerian Exchange (NGX) Limited, Mr Jude Chiemeka, gave this advice at the Facts Behind the Figures (FBF) of the company on Thursday, September 14, 2023, at the bourse in Lagos.
The FBF is a platform designed by the NGX for companies to meet with stock market stakeholders. Companies use the opportunity to explain in detail their financial figures and the efforts they are making to improve their numbers to create more value for shareholders.
“We are delighted that Chams HoldCo has chosen to use this forum to communicate its financial performance and strategic and operational developments to the investment community.
“Given that accurate, accessible, and timely information is essential to stimulate market activity, your continued interaction with investors and the capital market ecosystem is important to ensure a reasonable flow of relevant information to the market.
“We anticipate that today’s interaction will be fruitful, encourage transparency, price discovery, and positively impact the overall performance of your stocks,” Mr Chiemeka said.
In its bid to increase shareholder value, Chams transitioned to the holding company structure.
With its subsidiaries, Chams Switch, Chams Mobile, Chams Access, and Card Centre, the firm has evolved from the computer and hardware maintenance company that listed on NGX in 2008 to providing enterprise technology solutions in the identity management and transaction payments space to public and private sector institutions.
Speaking at the event, the Managing Director of Chams, Mrs Mayowa Olaniyan, whilst describing the firm’s half-year results as impressive and improved, said that the company plans to finish the financial year on a strong note with three-digit year-on-year growth from expanded business activities and emerging opportunities within the group.
She revealed on the company’s outlook that Chams aims to consolidate cost-optimisation measures within the group and cross-selling synergies to sustain its bottom-line performance.
“We are poised for innovation that will revolutionise the payment and technology industry with fast, secure and reliable platforms. We have plans to expand product lines through collaborations and partnerships.
“The company will seek support from stockbrokers, NGX and advisors in assessing additional capital in tranches via a rights issue. This was endorsed by shareholders last year, and this capital will help to reposition the company to achieve its objectives,” she said.
The Chairman of Chams, Mr Demola Aladekomo, noted that the organisation has pivoted from a business-to-government model to a more sustainable direct-to-consumer model. He also hinged on the company’s commitment to maximising shareholder value.
